Meats Futures Prices
- Livestock Report
Markets beat up, trade lower with Feeders down limit for a while
- Stay The Course
My message today is...
- TFM Sunrise update - November 13, 2019
Harvest Progress behind even trade guesses. . . but grains pause overnight. April 2020 cattle eclipse contract high late yesterday setting the market up...
Futures Market News and Commentary
Lean hog futures finished the day with losses of $0.37 to $1.45 in the front months. The 11/12 CME Lean Hog Index was up 61 cents to $59.55. The afternoon pork carcass cutout value from USDA was only 2 cents lower. The biggest moves for the primal cuts were by picnics (down $2.18) and ribs (up $1.93). The national average base hog price 4 cents lower this afternoon at $42.20. China lifted their ban on U.S. poultry imports in an announcement this afternoon. The USDA estimated weekly FI hog slaughter as of 11/14 was 1.916 million head; that is 49,000 head behind last week’s pace.
DEC 19 Hogs closed at $62.750, down $0.375,
FEB 19 Hogs closed at $73.375, down $1.175
APR 20 Hogs closed at $80.300, down $1.450
--provided by Brugler Marketing & Management
Live cattle futures were up by as much as 97 cents after posting losses yesterday. Feeder cattle futures rallied $0.75 to $1.22 on a turnaround Thursday. The 11/13 CME Feeder Cattle index was lower by $0.05 on to $147.39. Afternoon boxed beef prices were lower. Choice boxes were seen $1.28 lower at $241.06, while select boxes had fallen by $1.69 to $215.84. There will be an additional online auction on the Fed Cattle Exchange Friday, with 1,264 head listed. Light cash trade of $115 in the South and $116.50 in NE has been reported so far this week, Nebraska dressed trades have gained $1.00 over last week, with $182.00 sales reported today. JBS stated that beef consumption in China is “impressive”, citing the inflation caused by the pork shortage. The USDA estimated FI cattle slaughter weekly total is at 467,000 as of Thursday. That is 6,000 head below the same pace a year ago and 3,000 head below last Thursday’s weekly total.
DEC 19 Cattle closed at $119.075, up $... Read more